Help to Save
Help to Save is a government savings scheme for people getting Universal Credit who are working. It adds a bonus of 50p for every £1 of savings growth, up to £1,200 over four years. It isn't a bank account we compare: there is one Help to Save scheme, and you apply on GOV.UK.
- £50Most you can pay in each calendar month
- 50%Bonus, paid after 2 years and after 4 years
- £1,200Most bonus over 4 years
- 4 yearsThen the account closes; you can't open another
Who can open one
- You can open a Help to Save account if you're receiving Universal Credit and you (with your partner, if it's a joint claim) had take-home pay of £1 or more in your last monthly assessment period. Take-home pay is pay after deductions such as tax and National Insurance.
- Each partner in a couple can open their own account, applying separately.
- You must live in the UK. Crown servants and members of the British armed forces overseas, and their spouses or civil partners, can apply from abroad.
- If you stop claiming benefits, you can keep using your account.
How the bonuses work
- After 2 years: a bonus of 50% of the highest balance you've reached.
- After 4 years: a final bonus of 50% of how much your highest balance grew in years 3 and 4 beyond the highest balance in years 1 and 2. If it didn't grow, there is no final bonus.
- Taking money out lowers your balance, which can mean a smaller bonus. Bonuses already earned are kept.
GOV.UK's example: paying in £25 a month for 2 years gives a highest balance of £600 and a first bonus of 50% × £600 = £300. If the highest balance reaches £800 in years 3 and 4, the final bonus is 50% × (£800 − £600) = £100. Total bonus: £400.
The most: paying in £50 every month gives £1,200 after 2 years (bonus £600) and £2,400 after 4 years (final bonus 50% × (£2,400 − £1,200) = £600): £1,200 in all.
Benefits
GOV.UK says saving in Help to Save could affect some benefits. For Universal Credit and Housing Benefit, savings of £6,000 or less don't reduce payments, and Help to Save bonuses don't affect them. GOV.UK: how it affects your benefits
What's changing
In September 2026 HMRC said the scheme has been made permanent. It also said that from 2028 more Universal Credit claimants will be able to join, with the earnings rule removed for people with caring responsibilities, and that banks, building societies and credit unions will be able to offer it directly. HMRC press release, 21 September 2026. HMRC's November 2025 newsletter put it as all Universal Credit claimants receiving the child or caring element, from April 2028. HMRC tax-free savings newsletter, November 2025
Rules checked on GOV.UK 30 October 2026. We don't rank Help to Save or earn anything from it. This page explains how the scheme works; it isn't personal advice. See also NS&I and Premium Bonds.